Gazprom and Mitsubishi discuss cooperation prospects in LNG sector

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Takehiko Kakiuchi, President & Chief Executive Officer of Mitsubishi Corporation, took place in St. Petersburg today.

Background

Mitsubishi Corporation is an integrated company that operates in a number of economic sectors, including industrial finance, energy, metals, machinery, chemicals, food production, and environmental protection.

Russia's only LNG plant is in operation under the Sakhalin II project. The Sakhalin II operator is Sakhalin Energy Investment Company Ltd. (Gazprom – 50 per cent plus one share, Shell – 27.5 per cent minus one share, Mitsui – 12.5 per cent, and Mitsubishi – 10 per cent).

On December 16, 2016, Gazprom and Mitsubishi inked the Agreement of Strategic Cooperation to further their partnership in the LNG sector.